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The Sage Payroll PayCard

The Sage Payroll PayCard. Cost-effective. Secure. Smart. Agenda. Positioning What do we tell your customers What’s in it for you Benefits Revenue example What you need to do The process Roadmap Q & A . What is the Sage Payroll PayCard?. Pre-paid debit card. Main benefits.

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The Sage Payroll PayCard

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  1. The Sage Payroll PayCard Cost-effective. Secure. Smart

  2. Agenda • Positioning • What do we tell your customers • What’s in it for you • Benefits • Revenue example • What you need to do • The process • Roadmap • Q & A

  3. What is the Sage Payroll PayCard? Pre-paid debit card

  4. Main benefits • Good for the company • Saving cost • Hassle free • Happy employees – great service • Good for the employees • No checks to cash • Direct access to funds • Safe • All the benefits of a Visa debit card, but without a bank account

  5. Employee Enrollment timeline Typical timeframe 10-14 days

  6. Employer website http://www.sagepayrollpaycard.com/

  7. Enrollment and reporting • User friendly site • Easy enrollment • Informational report

  8. Benefits to Employers • Cost reduction • Paperless payroll – going “green” • No hassle • No lost or stolen checks • Minimizes exposure to check fraud • Eliminates check reconciliation process • Eliminates check distribution costs • Eliminates escheatment liability • Works with both Abra Payroll and Compupay • Not responsible for cardholder issues • No financial liability for cardholder activity

  9. Costs of Issuing Payroll Checks What is it costing your company? • Costs to issue a stop payment and replace a lost check • Transportation costs • Cost to deliver checks • Decreased HR/payroll personnel productivity

  10. Case Study Business Challenge: • 5 job sites • Employs 300 workers - 50% receiving paper paychecks • Weekly pay period with paychecks being delivered to each job site • Supervisors at each site are required to be available to distribute checks over a 3 hour period • Frequently company vans are used to transport workers to cash their checks resulting in lost productivity and cost of gas • 25 checks were lost or stolen last year

  11. Case Study $128,778 savings per year!

  12. Employer Calculator We can work with you to calculate the savings for your company.

  13. Benefits to Employees • No check cashing • No bank account or credit check required • Immediate access on payday • Safer than carrying cash • Convenient • Employee owns the card • Allpoint ATM Network – over 37,000 surcharge-free ATM locations worldwide at www.allpointnetwork.com • Up to 3 secondary cards available

  14. Employee Web portal • Quick and easy to use web portal • Secure login • Card number • Last 4 digits of SSN • Security code • Available 24/7

  15. Cardholder Fees Charged directly to the employee. In some cases, the employer will choose to pay these fees, which can be treated as a post-tax contribution. • One-time Enrollment Fees • Monthly Fees

  16. Cardholder Fees Transaction Fees Other Fees

  17. Check Cashing/Spending Comparison (4 Paychecks/Month)

  18. Cardholder Average Monthly Savings • Many employees can save as much as $500 annually in check cashing fees.

  19. Positioning the Payroll Card Program • Make It Mandatory • Direct deposit is a condition of employment • Offer employees choice of direct deposit or payroll debit card • Voluntary - Direct Deposit is “Preferred by the Company” • Offer the Sage Payroll PayCard as “a new and better way to get your pay” • Include paper paychecks as a discouraged option

  20. Employer Support • Dedicated Account Manager • Communication materials for employees • Promotional introductory letters • Setup forms • Posters • Email content • Paycheck stuffers • FAQs • Employer Materials • Online training • Website guide • Quick reference guides • Implementation guide • Easy-to-use website portal

  21. Marketing materials

  22. Sage Payroll Paycard fees • Employer Fees • One Time Set Up Fee $50.00 – • Monthly Employer Maintenance Fee $10.00 • One-time employee card enrollment $2.00 • Fall 2010 PROMOTION: Fees above are WAIVED IF ENROLLED BY ….

  23. What’s in it for you • Recurring revenue • $1.00/card/month • Happy customers • Increased ‘stickiness’

  24. What you need to do • Almost nothing • Inform your customer • Answer some questions • Start collecting money

  25. The Process • Leads • New & Existing Clients • Webcasts • Opportunity Management • Resources • Sage & Motivano • Placing Orders • Order Form • Underwriting Guidelines

  26. Roadmap: more good stuff to come • “Instacards”: one time instant usage • In-product connected service • Batch processing • ROI calculator

  27. Questions?

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